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Isis Pharmaceuticals Completes Redemption Of 2 5/8% Convertible Subordinated Notes Due 2027
Date:9/13/2012

CARLSBAD, Calif., Sept. 13, 2012 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) announced today that it has completed the redemption of the entire $162.5 million of 2 ⅝% Convertible Subordinated Notes due 2027.  The redemption price plus accrued interest was approximately $164 million and was settled in cash using the net proceeds of the Company's August 2012 issuance of $201.25 million aggregate principal amount of 2 ¾ % Convertible Senior Notes due 2019. 

"We are pleased to have successfully completed the offering of our 2 ¾% Convertible Senior Notes at terms that reflect the favorable market conditions for convertible debt and the recent positive trend in Isis' stock performance. The proceeds from the newer offering allowed us to settle the entire $162.5 million 2 ⅝% Convertible Subordinated Notes in cash and without diluting current shareholders," said B. Lynne Parshall, Chief Operating Officer and Chief Financial Officer of Isis.

ABOUT ISIS PHARMACEUTICALS, INC.
Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 25 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic, severe and rare diseases, and cancer. Isis' partner, Genzyme, plans to commercialize Isis' lead product, KYNAMRO™, following regulatory approval. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at www.isispharm.com.

ISIS PHARMACEUTICALS' FORWARD-LOOKING STATEMENT
This press release includes forward-looking statements regarding Isis' financial position and outlook and Isis' business. Any statement describing Isis' goals, expect
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SOURCE Isis Pharmaceuticals, Inc.
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